From the Credit Union Times
NCUA Chairman Debbie Matz said Wednesday the agency had no choice but to end its joint exams with North Carolina regulators because they “violated the trust’’ by allowing State Employees’ CU to release its CAMEL Rating.
State Employees' Credit Union (SECU) is the second largest credit union in the nation. I found the press release from SECU
when it announced the release of its CAMEL
North Carolina State Employees' Credit Union (SECU) is choosing to go “where no credit union has gone before” --- requesting a one-year trial disclosure of its CAMEL code. The CAMEL rating system is used by the North Carolina Credit Union Division – and by most other federal and state financial regulators – as a method of evaluating the overall health of a state-chartered credit union. SECU sought this one-year trial disclosure in an effort to test a new standard for full transparency